On May 7, Ferrari reported strong Q1 2024 results, with net revenue up 11% YoY to $1.74 billion (1.585 billion euros) and adjusted net profit rising 19% to $387 million (352 million euros). Adjusted EBITDA increased by 13% to $666 million (605 million euros), driven by effective pricing and product mix, particularly the limited edition Daytona SP3. Despite a 20% drop in China sales, Ferrari saw growth in other regions. The company expects 2024 revenue to exceed $7.04 billion (6.4 billion euros) and raised its adjusted EBITDA forecast to over $2.70 billion (2.45 billion euros). CEO Benedetto Vigna highlighted the success of Ferrari’s “value over volume” strategy, which analysts praised for its profit growth potential.